Two STEM firms located in New Mexico recently received funding from the U.S. Commerce Department via the Creating Helpful Incentives to Produce Semiconductors for America Fund and Science Act, or CHIPS in Science Act.
Intel’s Rio Rancho facility won a $500 million investment through the CHIPS and Science Act.
“Thanks to our CHIPS and Science Act and the role that innovators like Intel play in our state’s enchanted innovation economy, we are growing domestic manufacturing,” Rep. Leger Fernández, a Democrat representing New Mexico’s 3rd Congressional District, said in a press release. “For too long, we had underinvested in American manufacturing, in research and in development. As a result, we underinvested in our American workers. Under Democratic leadership, we changed all that and passed the CHIPS and Science Act to grow New Mexico’s enchanted economy with projects like this one. This funding will provide up to 4,300 jobs for New Mexicans—many of whom live in my district. That’s what I call progress.”
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The $500 million is expected to fund 4,300 New Mexico jobs.
The U.S. Department of Commerce reached a final agreement with SolAero by Rocket Lab to give SolAero up to $23.90 million in direct funding from the CHIPS and Science Act.
“I am so excited that SolAero will get $24 million to expand and modernize their facilities right in the heart of New Mexico’s 1st Congressional District,” Rep. Melanie Stansbury, a Democrat, said in a press release. “Thanks to the CHIPS and Science Act, more than 100 new manufacturing jobs will be created and New Mexico will continue leading the way in technological manufacturing. The future is bright!” Companies in New Mexico have received $523.9 million in funding through the CHIPS and Science Act.